Lora Jones is a business reporter for the British Broadcasting Corporation.

Liz TrussImage source, Getty Images
Image caption, Prime Minister Liz Truss is under pressure after a week of economic turmoil in the markets

The mini-budget has caused disruption in the UK economy, according to the Prime Minister.

The pound fell after the Bank of England spent billionsshoring up pension funds.

She said the government had acted to help people with the cost of living.

The announcements were not accompanied by the usual economic forecasts.

The independent fiscal watchdog's assessment of her tax plans has not been made public.

The chancellor is due to set out further economic plans on the same day that the Office for Budget Responsibility is due to be published.

Some Conservative MPs would like to see this sooner.

The Treasury believes that more changes should be announced.

"I am going to do things in a different way," she wrote. Difficult decisions and disruption are involved.

Measures in eight areas are expected to be included in the plan to spur growth, including business regulation, agriculture, housing and planning, immigration, mobile and broadband, financial services, and energy.

She said she would keep an iron grip on the national finances.

The Chancellor set out some of the government's tax and spending plans last week, including support for people facing high energy bills and a surprise announcement that it would scrap the 45% highest tax band for high earner.

His mini-budget did not include a forecast from the OBR which helped to fuel market turmoil.

The government confirmed on Friday that the rest of its economic plans would be published on November 23.

The chancellor wrote in the Telegraph that the plan would get the public finances back on track.

He said that the British taxpayer expects their government to work efficiently and effectively.

OBR members in Downing StreetImage source, PA Media
Image caption, Leading members of the Office of Budget Responsibility arriving at 10 Downing Street for a rare meeting with the prime minister

The government needs to explain more about how it will control spending, as well as boost economic growth, according to a senior minister.

Our ability to pay for it has been taken away by our spending habits. He said that needed to change.

The timing of last Friday's plan was "hopelessly wrong" and should be brought forward in October, according to Waveney MP Peter Aldous.

The leader of the Liberal Democrat argued that the government had allowed the economy to fly blind by waiting until November.

He said families and businesses can't afford to wait for the government to fix their budget.

The Office for Budget Responsibility is independent of the government.

Each autumn budget and spring statement is accompanied by an economic forecast.

It looks at government plans, to increase taxes or borrow, and predicts what the impact will be on the economy.

A strong one will give investors confidence to put money into the UK economy, whereas a weak one will hurt it.

At any time, the government can ask for forecasts from the OBR.

Ahead of last week's mini-budget, it did not accept the OBR's offer. The markets are thought to have been undermined by this.

The pound dropped to its lowest rate against the dollar in 37 years on Monday after this happened.

The lack of an OBR forecast to accompany the mini-budget from the government has been seen as one of the reasons for recent turmoil on the financial markets.

The draft forecast was offered but not taken up.

The pound dropped to a 37 year low on Monday after the government's tax-cutting plan was criticized by the International Monetary Fund.

The currency was close to where it was before the mini-Budget was announced.

Standard & Poor's cut the outlook for its AA credit rating for British government debt from "stable" to "negative" on Friday because of the prospect of higher borrowing needed to fund pledges.

The Conservatives have posted some of their worst opinion poll ratings in more than two decades.

The party was put on 28%, more than 21 points behind Labour, by a poll published on Thursday, while the Conservatives were put on 21%, 33 points adrift.

Jonathan Reynolds, Labour's shadow business secretary, said that ministers should get back to Parliament, revoked the changes, and start again to rebuild confidence.

The prime minister was urged not to scrap the 45p tax rate and bankers' bonus cap by a Conservative member of parliament.

The mini-budget was "unashamedly pro-growth" and the markets were wrong to be jittery about it, according to another Conservative backbencher.

  • HM Treasury
  • Elizabeth Truss
  • Stock markets
  • Kwasi Kwarteng